1st interim workshop - kern
TRANSCRIPT
Reconciling Board Financial Summary
• Assets Cash in Bank (9120) Revolving Cash (9130) *Accounts Receivable (9200) *Due From Grantor Agencies (9290) Due From Other Funds (9310) Stores (9320) Prepaid (9330)
*Denotes accounts that need to be reconciled to $0 at June 30th
Reconciling Board Financial Summary
• Liabilities *Accounts Payable (9500) *Due to Grantor Agencies (9590) *Refund Clearing Account (9505) *AP Current Liability (9510) Current Liabilities (9515, 9518-9522) Use Tax (9526) Due from Other Tax (9610) Current Loans TRANS (9640)
*Denotes accounts that need to be reconciled to $0 at June 30th
Accounts Payable/Receivable 1. Run a detailed ledger for 9209, 9509, 9599,
and 9299 in the old year a. Accounts Receivable (9200’s)
i. You must determine what items of the original amount have not been collected – Either write off to revenue account (8xxx) or rebook in
accounts receivable (9209) b. Accounts Payable (9500’s)
i. You must determine what items of the original have not been paid – Either write off to an expense account (1000-7999) or
rebook in accounts payable if you still owe (9509 or 9599)
Reconciling Board Financial Summary
Reconciling Board Financial Summary
2. Due to Other Funds/Due From Other Funds a. Clear temp loan or make temp loan b. 9310 should always have a positive balance and 9610 should always
have a negative balance 3. Stores
a. Verify that GL matches physical inventory (either food or supplies) 4. Pre-paid Expenses
a. Verify if you are paying in advance for services that apply to multiple years and book pre-paid expense
5. Refund Clearing Accounts 6. Accounts Payable Current Liability 7. Worker’s Compensation and Unemployment Insurance
a. Should only have a balance of the next quarterly payments in the new year
Put in your P2 estimate
If P2 estimate is lower than original, use prior year RL ADA
Must match RLI form
FORM RLI FORM RLI
Must match ADA on Form AI. Includes all ADA except Necessary Small Schools
State COLA inflation factor amount based on statewide averages
Add on rate for BTS and meals for needy
Unemployment Insurance
FORM RLI Must match total Property Taxes budgeted in 80XX
Charter In Lieu tax transfer is coded to Object 8096
MUST MATCH OBJECT 8011
The revenue limit transferred to the county for county run programs…not your 8091 transfer to special ed.
FOR Report SEMAI
Manual Data Input -----Key in the most recent Unduplicated Pupil Count number. You can find this on the District Advisory Web under Funding Information
First Interim Special Education Maintenance of Effort
2012-13 Projected Expenditures vs. 2011-12 Actual Expenditures Comparison 2012-13 Projected Expenditures by LEA
FORM RLI
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First Interim Special Education Maintenance of Effort
2012-13 Projected Expenditures vs. 2011-12 Actual Expenditures Comparison 2011-12 Actual Expenditures by LEA
Manual Data Input ----Key in your most current Unduplicated Pupil Count number
Manual Data Input ----Key in your most current Unduplicated Pupil Count number
Select Option 1 or Select Option 2 Must choose Option 2 if Option 1 fails
Manual Data Input ----Used to lower prior year MOE standard (only fill out it applicable/necessary
FORM RLI
fgjfgjh Manual Data Input ----Used to lower prior year MOE standard (only fill out if applicable/necessary)
FORM RLI
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All Data on this page self extracts----check to see if your district passes its MOE (either one or both numbers in Column C must be positive to pass test)
You will need to go on to Test B is you do not pass Test A (if both numbers in column C are negative, you did not pass Test A and need to move on to Test B
Multiyear Projections (MYP) Enrollment & ADA Trends Revenues Expenditures Deficit Spending Financial Obligation Current and two subsequent fiscal years
Form MYP - Unrestricted
You must manually input Fund 17 reserves in the two out years
Now requires an explanation of the adjustments from the previous section . Be as detailed as necessary.
Form MYP - Restricted
Now requires an explanation of the adjustments from the previous section . Be as detailed as necessary.
Manual Input of district projected actual ADA for that year, not RL ADA, if declining ADA district. This information is what pulls into C&S for Actual ADA/CBEDS ratios
ADA Pulls from Form A Estimated P2 Column
If you have negative restricted fund balances you must input them here
Form MYP – Unrestricted/Restricted
Assumptions • ADA Trends • Revenue Projections • Expenditure Projections • Adjustments • Deficit Spending
– Contingency Plans
Instructions
1. Select your district from dropdown menu 2. Enter your Deficited RL 3. Enter your State Aid 4. Input your Budget for 2012-13 and 2013-14 5. Cash Flow will populate automatically
You can only access items highlighted in yellow
on the New Cash Flow Spreadsheet
STEP 1
1. Select your district from the dropdown menu – What is the purpose of selecting my district in Step 1?
• Imports the State Advance Apportionment listed on the CDE Website for your district
• Imports your Prior Year Actuals from QCC • Imports your Current Year Actuals from QCC • Determines your district payment type/plan • Determines your Principal Apportionment Summary based
on the CDE Payment Calculator based on the passage of Proposition 30
STEP 2 & STEP 3
• Step 2 1. Enter your deficited base revenue limit
• Found on FORM RLI, Line 17 on the Projected Year Totals column
• Step 3 1. Enter your state aid estimate for revenue limit
• Found on FORM RLI, Line 42 on the Projected Year Totals column
STEP 2 & STEP 3
• What is the purpose of Step 2 and Step 3? – Revenue limit calculation to account for estimated
EPA reduction applied throughout year – CDE applies same method when determining the
Advance Apportionment EPA reduction but uses your prior year P-2 figures
– EPA Reduction/Funds/Adjustment calculation is done automatically after STEP 2 and STEP 3.
• You can view the calculation on the EPA Adj tab
STEP 2 & STEP 3
• More reasons for Step 2 and Step 3… – Uses your EPA reduction/adjustment to calculate
the information that will be entered in cell C5 of the Taxes Pass tab (CDE Payment Calculator)
• Taxes Pass Tab 1. Automatically imports your advance payments from CDE
website from July thru January on cell C7 2. Cell C5 is automatically imported using your total estimated
STATE AID minus your total estimated EPA REDUCTION/ADJUSTMENT
STEP 4
• Step 4 1. Enter your projected budget for 2012-13 2. Enter your total Beginning Balance of Receivables for
2012-13 (Cell C23 on STEP 4 Tab)
• You will need to print 2012-13 Financial Summary Report (GLD 500)
• Add up and enter totals from object 9200 – 9299 and object 9310 3. Enter your Beginning Balance of Payables for 2012-13
(Cell C23 on STEP 4 Tab)
• You will need to print 2012-13 Financial Summary Report (GLD 500)
• Add up and enter totals from object 9500 – 9599 and object 9610 4. Enter your projected budget for 2013-14
STEP 5
• Step 5 – Your cash flow will automatically project based on
information provided in Steps 1-4 – You will need to manually set any revenue or
expenditure accruals – Make sure your total columns match your
projected budget for both 2012-13 and 2013-14
Overview Three Components to the C & S
•Criteria & Standards •Supplemental Information •Additional Fiscal Indicators
Complete C&S last, as data is extracted from other forms •Minimize data input, ensure consistency •Make sure enrollment data is accurate for prior years •COE reviews for accuracy and reasonability
Official Budget File may be imported into 2012SACSALL •Be accurate in the data input •Save time and manual entry on Unaudited Actual and Interim Reports
Form 01CSI, Page 1 Enter ADA from
Current Year Budget CS
Estimated ADA extracted from
Form RL & MYP
If Standard “Not Met” must
enter explanation
Form 01CSI, Page 2
If standard “Not Met” must
enter explanation
Enter projected enrollment
from Budget Adoption
Enter actual enrollment
from CBEDS
Form 01CSI, Page 3 Extracted from
Form A
Extracted from previous page
Extracted from Form A and
MYP
Extracted from CS 2
Form 01CSI, Page 5 5A Data is
extracted from Form 01
Data is extracted from Form 01 and
MYP
Provide an explanation if status is “Not Met”
Form 01CSI, Page 7 Data is
extracted from Form 01 and
MYP
Enter explanation for
% change over standard
Data in section 6C is
extracted from section 6B
Form 01CSI, Page 8
Data is extracted
from Form 01
If standard “Not Met” put
“X” in appropriate
box
Enter explanation if other box is
checked
Form 01CSI, Page 10
Data is extracted from Form 01 and
MYP
Enter explanation if standard is “Not Met”
Form 01CSI, Page 10
Data Entered as estimate
from cash flow
Enter explanation for standard “Not
Met”
Form 01CSI, Page 11 10. CRITERION: Reserves – All data are extracted to calculate district’s reserve standard percentage. 10A. Data is extracted from MYP (if not, click no button.) 10B. Data is extracted from Form 01 and MYP
Form 01CSI, Page 12
Data is extracted from Form 01 and
MYP
Enter explanation if
reserve standard “Not
Met”
Form 01CSI, Page 14
Data is extracted for 2011-12 and
2012-13
Enter data for 2013-14 and
2014-15
Enter explanation if standard “Not
Met”
Long Term Debt Ending balance from audit report is entered in Principal Balance as of July 1, 2012 column
Principal and interest payments entered from payment schedule
Form 01CSI, Page 20
Enter number of certificated
FTE
If MYP assumptions
include staffing
reductions, should be
reflected here.
Form 01CSI, Page 20 If negotiations are settled and
public disclosure documents
have been filed with KCSOS,
complete questions 2-3
If negotiations are settled, and
public disclosure documents
have not been filed with KCSOS, complete
questions 2-5.
If negotiations are not settled,
complete questions 6-7
Form 01CSI, Page 21
This section should be
completed by all districts,
whether or not negotiations are settled
Form 01CSI, Page 22 Enter
classified FTE. If reducing
staff, should be reflected
If negotiations are settled and
public disclosure has been filed with
KCSOS, complete
questions 2-3. If public
disclosure has not been filed
complete questions 2-5.
If negotiations are not settled,
complete questions 6-7
Form 01CSI, Page 23
This section should be
completed by all districts,
whether or not negotiations are settled
Form 01CSI, Page 24
Enter FTE
If MYP assumptions
include staffing
reductions, should be
reflected here.
If negotiations are settled, complete
question 2.
Form 01CSI, Page 24 If negotiations
are not settled,
complete questions 3-4
This section should be
completed by all districts,
whether or not negotiations are settled
Form 01CS, Page 26
Click the appropriate Yes or No
button.
Question A3 is completed based on
Criterion 2.
Explain any Yes answers
in the comment section.